The future for rental housing in sub-Saharan African cities is extremely strong, especially housing for young people. This is driven by demographics and urbanization. Kenya alone will add about 30 million people into Urban Centers by 2050. We see millions of dollars being required to invest in rental housing over the next 30 years.
It is a space that is underserved and is growing, and it is a space which needs buildings that are fit for purpose. Presently, there are hardly any other players in Kenya who have the capabilities that we have assembled, the experience we have and the reputation to undertake this type of investment.
With our successful track record and our approach as owners and operators, we have consistently been able to find the right opportunities, execute their development and profitably manage the assets. Therefore, we believe that there is a very long future ahead for continuing to invest in this asset class.